How China’s digital currency is leading the race to displace bitcoin and other cryptocurrencies

Ever since 2014, the Chinese government has led the global race to form a central bank digital currency (CBDC) with the creation of the digital yuan. Central banks across the world soon began to play catch-up and develop their own projects behind this digital technology. Seven years later, the Bank for International Settlements (BIS) estimates that 86 per cent of central […]

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El Salvador president wants Bitcoin as legal tender

El Salvador President Nayib Bukele announced in a recorded message played at a Bitcoin conference in Miami that next week he will send proposed legislation to the country’s congress that would make the cryptocurrency legal tender in the Central American nation. The 39-year-old president, who has maintained approval ratings above 90% and made Twitter his preferred way of communicating, characterized […]

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Coinbase is here: A cryptocurrency exchange goes public

Wall Street will be focused on Coinbase Wednesday, with the digital currency exchange becoming a publicly traded company. Coinbase is making its initial public offering of stock with cryptocurrency chatter seemingly everywhere, even at the U.S. Federal Reserve. It is being incorporated into the business plans and accepted by major corporations like Tesla, PayPal and Visa. “The Coinbase IPO is […]

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Bitcoin could become ‘currency of choice’ for global trade, Citi says

Citi thinks bitcoin is at a “tipping point” and could one day “become the currency of choice for international trade” as companies like Tesla and PayPal warm to it and central banks explore issuing their digital currencies.“There are a host of risks and obstacles that stand in the way of Bitcoin progress,” the U.S. bank’s global perspectives and solutions team […]

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What Is Bitcoin And How Does It Work?

Bitcoin is the first cryptocurrency in existence and one of the most popular today. Financial media eagerly covers each high and decline, making Bitcoin an unavoidable part of the landscape.While the high volatility might produce great headlines, it hardly makes Bitcoin the best choice for beginner investors or people looking for a stable store of value. Understanding the ins and […]

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Bitcoin: Rakuten turns cryptocurrency into a means of payment

The e-commerce and online retailing company Rakuten, known for its open relationship with cryptocurrencies, now allows its customers to use crypto money for their purchases.  Rakuten is not only active in retail but also in the financial sector based in Tokyo. It was founded in 1997 by Japanese businessman Hiroshi Mikitani. Its B2M E-Commerce platform Rakuten Ichiba is the largest […]

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Bitcoin Rebounds Back to $50,000 as Risk Appetite Returns

Bitcoin climbed to a one-week high as risk appetite in markets returned, and investors considered the regulatory issues facing cryptocurrencies.The digital token climbed 7% to trade above $50,000 in early London trading. On Tuesday, prices dipped 2.9% after Gary Gensler, nominee for chairman of the U.S. Securities and Exchange Commission, said that making sure crypto markets are free of fraud […]

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Bitcoin epic rally in February

February was a record-breaking month for the world’s most popular currency. Bitcoin’s price jumped more than 50% to hit a $1 trillion market cap and smashed above the $58,000-level.The month also saw heavyweight institutions such as Tesla and Mastercard embrace the cryptocurrency, while MicroStrategy reinforced its support for bitcoin by adding to its existing pile. February 1 A European Central […]

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China’s answer to the Bitcoin

Almost two-thirds of all bitcoins that are on the market worldwide are mined in China; the state still tolerates this, but trading in cryptocurrencies is no longer allowed. The Chinese government has its plans. China is the world’s largest producer of bitcoins. Hardly anyone in this country knows company names like Bitmain or MicroBT. Still, they are among the largest […]

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Bitcoin Slumps Below $50,000 as Caution Sweeps Over Crypto Rally

Bitcoin slid Tuesday after a bout of volatility highlighted lingering doubts about the token’s durability’s mesmerizing rally.The cryptocurrency fell as much as 12.5% to $48,071 and was trading below $50,000 as of 8:16 a.m. in London. At one point Monday it plunged 17% before paring the slide. Bitcoin is still up some 390% in the past year.Treasury Secretary Janet Yellen […]

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